Excerpt from:  Small Business Virtual Office Tips
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December 24, 2007

Small Business News: Small Firms Have Significant Impact on U.S. Growth

New report documents small businesses significant economic impacts in 2006

If you ever wonder how small businesses are effecting the country, or if you're making a difference in the world, you'll be happy to hear the results of a recently released document. Small businesses continued to lead growth in the U.S. economy in 2006, according to a report issued recently by the Office of Advocacy of the U.S. Small Business Administration.

"Today's report shows that overall, small firms continue to drive a resilient U.S. economy," said Advocacy Chief Economist Chad Moutray. "In releasing this annual small business research report, we are pleased also to showcase new research by economists in the field of small business and entrepreneurship."

Moutray released the report last month at a meeting of the Rotary Club of Washington, DC. The study, The Small Business Economy: A Report to the President for 2007, is the Office of Advocacy's annual report on the state of small business in America. The report reviews the economic environment for small businesses in the year 2006, including the financial and federal procurement marketplaces.

New research focuses on minority- and veteran-owned businesses, social entrepreneurship, and pre-venture planning. Other chapters and appendices provide data on small business and an update on Office of Advocacy initiatives.

The Office of Advocacy, the "small business watchdog" of the federal government, examines the role and status of small business in the economy and independently represents the views of small business to federal agencies, Congress, and the President. It is the source for small business statistics presented in user-friendly formats, and it funds research into small business issues.

For more information and a complete copy of the report, visit the Office of Advocacy website at http://www.sba.gov/advo. Print copies are also available upon request to the Office of Advocacy (202) 205-6933. The Office of Advocacy of the U.S. Small Business Administration (SBA) is an independent voice for small business within the federal government. The presidentially appointed Chief Counsel for Advocacy advances the views, concerns, interests of small business before Congress, the White House, federal agencies, federal courts, and state policy makers.


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